Iran's top commanders boasted readiness to respond to potential Israeli strikes on Iranian nuclear facilities amid near-zero progress in the negotiations between Tehran and Washington.

Depending on who you ask, a nuclear agreement between Iran and the United states is either a non-starter or almost a done deal.

Hedge funds boosted their bullish position on Brent crude by the most since early April as fading prospects for a quick US-Iran nuclear deal raised expectations that the OPEC member’s flows may be curtailed.

Crude oil prices extended their losses following reports that OPEC+ is considering a further production increase in July, ahead of US-Iran nuclear talks later today. Oil markets remain caught between escalating geopolitical tensions and persistent concerns over a potential oversupply.